Can I create diagonal banners on the fly in the corner of images?

I've seen diagonal banner or ribbons on real estate sites that display in the corner of certain images and used to indicate "Price Reduced", "Just Listed", "Sold", etc. Can anyone recommend a method or possibly a plugin that would allow me to create and assign specific ribbons as an overlay on specific images? I would need the banner to NOT be part of the image and something that could be turned on or off and assigned to different images etc. I'm trying to attach a sample image to this thread for clarification on what I want to do.

Comments 2

Not really sure how to even ask how to do this but this is what I'd like to do on my site. It has to be some sort of overlay because the banner isn't there when you just save the picture. I had to do a screen shot to get this.

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